Luno has announced a partnership with Zapper, enabling Luno users to pay with crypto at over 31,000 Zapper merchants nationwide. This expansion of Luno Pay brings the ease and convenience of crypto payments that South Africans have enjoyed at Pick n Pay to a wide range of businesses, from major retailers like Dis-Chem to FlySafair airlines, fuel stations, educational institutions, and parking.
"We are delighted to be the first crypto asset service provider in South Africa collaborating with Zapper," says Tarris Arnold, Luno's Business Development Manager.

"This allows our customers to use the Luno app to pay anywhere Zapper QR codes are used."

This integration marks a major step towards mainstreaming crypto payments in South Africa.

"Currently the biggest use case for crypto in South Africa is investment, but the ability to pay at such a wide variety of merchants using crypto is a giant step closer to the original vision of using crypto to pay for goods and services," Arnold adds.

Straightforward use

Customers simply scan any Zapper QR code at a point of sale or online and pay using the crypto in their Luno wallets.

The service comes with Luno’s standard transaction limit of up to R100,000 per transaction and aims to provide a payment experience as quick as using a credit card.

"Our mission is to help Zapper merchants grow their businesses, which is why Zapper is one of the most widely used QR code payment solutions in South Africa," says Mike Bryer, CEO of Zapper.

"By collaborating with Luno, we are expanding our payments ecosystem to add over five million more South African users to our network.”

Cheaper than tapping

Luno currently doesn't charge any service fees for Luno Pay transactions.

However, users should be aware that SARS considers spending crypto on goods and services as a barter transaction, potentially incurring Capital Gains Tax or Income Tax.

This development positions Luno as a leader in driving crypto adoption in South Africa, offering users a practical and accessible way to use their crypto holdings in everyday transactions.

All rights reserved. © 2022. Bizcommunity.com Provided by SyndiGate Media Inc. (Syndigate.info).